Core infrastructure sector output in July grows at 9.4% due to low base effect

Core infrastructure sector output in July grows at 9.4% due to low base effect

ANIUpdated: Tuesday, August 31, 2021, 06:22 PM IST
article-image
In the year-ago period, eight core infrastructure sectors output had dipped by 7.6 per cent due to the impact of COVID-19 pandemic/ Representational image | Photo credit: Kateryna Babaieva

The output of eight core infrastructure sectors rose by 9.4 per cent in July due to a low base effect, government data released on Tuesday showed.

In the year-ago period, it had dipped by 7.6 per cent due to the impact of COVID-19 pandemic. In June this year, the growth was 9.3 per cent.

The output of these sectors altogether make up 40 per cent of the Index of Industrial production (IIP).

"The production of coal, natural gas, refinery products, fertilisers, steel, cement and electricity industries increased in July 2021 over the corresponding period of last year," said a statement released by the Ministry of Commerce and Industry.

However, crude oil production with a weightage of 8.98 per cent declined by 3.2 per cent in July over the same period of last year. Its cumulative index declined by 3.4 per cent during April to July 2021-22 over the corresponding period of previous year.

But coal production in July went up by 18.7 per cent, natural gas by 18.9 per cent, petroleum refinery products by 6.7 per cent, fertilisers by 0.5 per cent, steel by 9.3 per cent, cement by 21.8 per cent and electricity by 9 per cent.

RECENT STORIES

Govt Keeps Interest Rates On Small Savings Schemes Unchanged

Govt Keeps Interest Rates On Small Savings Schemes Unchanged

LG Electronics India Set To Launch Its Mega IPO On October 7

LG Electronics India Set To Launch Its Mega IPO On October 7

Tata Investment Corp Jumps 19.85% To Record High, IPO Pipeline & Strong Financials Fuel Bullish...

Tata Investment Corp Jumps 19.85% To Record High, IPO Pipeline & Strong Financials Fuel Bullish...

RBI MPC Meet: 'Next Rate Cut Likely In December,' Says Goldman Sachs’ Chief India Economist...

RBI MPC Meet: 'Next Rate Cut Likely In December,' Says Goldman Sachs’ Chief India Economist...

India’s Fiscal Deficit In April-August Stands At 38.1 Per Cent Of Full-Year Target

India’s Fiscal Deficit In April-August Stands At 38.1 Per Cent Of Full-Year Target